2019 was a stellar year for the benchmark index S&P/ASX 200 with the index delivering a return of 23.4%. However, 2020 started on a sour note and continues to struggle amidst the coronavirus outbreak with a negative trend seen in the index. The YTD performance of the index is -17.89.
The S&P/ASX 200 is Australia’s institutional investable benchmark and its constituents include all qualified businesses that are listed on the ASX. The index is created in a way that it would assess the performance of the top 200 index-eligible stocks registered on the Australian Stock Exchange based on their float-adjusted market cap.
At the time of writing (AEST 1:17 PM), S&P/ASX 200 was trading at 5,462.6, 0.46% below its previous close. The top gainers currently are:
Top Losers at this time were: Corporate Travel Management Limited (ASX:CTD), Unibail-Rodamco-Westfield (ASX:URW), Beach Energy Limited (ASX:BPT), BlueScope Steel Limited (ASX: BSL), Jumbo Interactive Limited (ASX:JIN).
In this article, we would be looking at the performance of these stocks and cover their recent updates.
Reliance Worldwide Corporation Limited (ASX:RWC)
Reliance Worldwide Corporation Limited is engaged in designing, manufacturing as well as distributing water flow and control products and solutions for the heating and plumbing industry. At AEST 1:37 PM, RWC shares were trading at $2.710, up 6.275% from its previous close.
Recently, on 06 April 2020, the Company provided an update on its UK operations. The Company announced that it completed the move to place more than 40% of its UK workforce on furlough. The Australian and the US business continue to operate as usual.
Bravura Solutions Limited (ASX:BVS)
Bravura Solutions Limited is a provider of software solutions for the funds administration, life insurance, & wealth management industries. At AEST 1:53 PM, BVS shares were trading at $4.35, up ~5.84% from its previous close.
Recently on 02 April 2020, the Company announced the appointment of an independent non-executive director, Ms Libby Roy, with effect from 01 April 2020.
EML Payments Limited (ASX:EML)
EML Payments Limited, the issuer of the pre-paid financial cards, reported growth of 6.061% in its share price. The shares at AEST 2:41 PM were trading at $2.80. Around 5,267,915 shares have traded so far.
On 01 April 2020, the Company completed the acquisition of Prepaid Financial Services (Ireland) Limited. The acquisition value was ~GBP226 million along with an earn-out worth GBP 55 million over three years.
Bega Cheese Limited (ASX:BGA)
Bega Cheese Limited is into the business of processing, manufacturing, cutting as well as packaging traditional cheese products. It also manufactures other high-value dairy products.
At AEST 2:46 PM, BGA shares were trading at $4.82, up ~2.12% from its previous close. Around 676,261 shares have traded so far.
On 14 April 2020, Bega Cheese released an announcement where it highlighted that the Full Court of the Federal Court of Australia in the trial judgement confirmed BGA’s right to use the existing packaging of its Smooth & Crunchy Peanut Butter products.
Ingenia Communities Group (ASX:INA)
Real Estate Company, Ingenia Communities Group that owns, operates & develops excellent reasonable seniors living housing and holiday communities. At AEST 2:57 PM, INA reported growth of ~5.07% in its share price. The shares were trading at $3.215, and around 1,147,411 shares were traded.
Recently, on 25 March 2020, the Company updated on the Group’s trading activity and FY2020 guidance amid COVID-19 pandemic.
Ingenia confirmed that it had no recorded cases of COVID-19 within the communities or the offices. Hence, all the communities would remain open with massive protocols in place.
The Company also confirmed that it had a strong balance sheet, significant liquidity & a large underlying base of stable rental revenues, mainly supported by Commonwealth Government pension payments as well as rent support which provide the Group with steady, extremely probable rental cash flows.
Based on the prevailing uncertainty surrounding COVID-19, the Company decided to withdraw its guidance.
Corporate Travel Management Limited (ASX:CTD)
Corporate Travel Management Limited, the provider of the travel management services to the corporate market, reported a fall in its share prices by ~8.67% at AEST 3:13 PM. The shares were trading at $10.960, and around 567,695 shares were traded.
Recently on 20 March 2020, Corporate Travel Management released its market update where it highlighted the further action taken by the Company in response to the changing landscape due to COVID-19.
The Company confirmed that it was experiencing a significant impact on its business due to the additional restriction imposed by the government on international travel and major reductions in domestic capacity. Based on this, the Company implemented additional, comprehensive cost reduction actions. This, when pooled with CTM’s strong liquidity position, would support the Company in handling the extended period of reduced activity.
Presently, the Company feels that there is no need to raise equity because of its strong liquidity position. Also, the interim dividend was postponed until October 2020.
Unibail-Rodamco-Westfield is the owner as well as the operator of commercial properties in Europe, the UK and the US. At AEST 3:34 PM, the shares of URW were trading at $5.06, down 8.664% from its previous close. Around 648,734 shares had been traded.
On 02 April 2020, Unibail-Rodamco-Westfield declared the placement of EUR 1.4 billion worth of bonds. The net proceeds from the issuance of general corporate purposes which includes the refinancing of debt that would mature in 2020 and increasing the Group’s debt maturity.
Beach Energy Limited (ASX:BPT)
Beach Energy Limited is into the business of oil and gas exploration, its development and production as well as investment in the resource industry. At AEST 3:45 PM, BPT shares were trading at $1.362, down 6.712% from its previous close. Around 13,070,700 shares had been traded.
On 27 March 2020, the Company provided its business update and highlighted that it had taken quick and decisive action in response to the lower oil price environment.
The Company had also taken measures to safeguard its workforce and at the same time, ensured that the business operates safely and effectively. BPT confirmed about its strong balance sheet and a cash balance of $60 million as at 31 December 2019.
BlueScope Steel Limited (ASX:BSL)
Steel manufacturing Company BlueScope Steel Limited had reported a fall in its share price by ~ 7.91% at AEST 3:48 PM. The shares were trading at $10.13, and around 1,739,043 shares had been traded.
On 07 April 2020, the Company confirmed that it is taking pre-emptive measures to boost its financial strength during the global economic uncertainty due to the spread of COVID-19.
Jumbo Interactive Limited (ASX:JIN)
Internet Lotteries and Gaming Company, Jumbo Interactive Limited at AEST 3:51 PM, reported a drop in its share price by ~8.46%. The shares were trading at $11.910, and around 782,142 shares had been traded.
On 14 April 2020, Jumbo Interactive Limited announced the resignation of Mr David K Barwick as Director and Non-executive Chairman, due to the duration of his tenure. He has served the Company for nearly 14 years and was hired as Director on 30 August 2006 & then as Non-executive Chairman on 22 November 2007.